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Property Data13 Feb 2018

Private Resale Non-Landed Prices Increase 1.0% in January; Volume Goes Up by 15.1%

1. Non-landed Private Residential Resale Prices increased 1.0% in January 2018. Non-landed Private Residential Resale prices increased 1.0% in January 2018 compared to December 2017. In all individual sectors – CCR, RCR and OCR recorded a price increase of 1.2%, 1.4% and 0.6% respectively.

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According to the SRX Non-Landed Private Residential Price Index:

  •  Year-on-year, prices in January 2018 increased by 6.3% from January 2017. In individual sectors, CCR, RCR and OCR recorded a year-on-year price increase of 5.6%, 9.7% and 4.4% respectively.
  •  January 2018 prices were down by 1.2% from the peak in January 2014.
  •  Price change was revised from 0.4% to 0.3% in December 2017.
  •  CCR and RCR continue to reach new highs.

 2. Resale volume increases by 15.1%. According to Non-Landed Private Residential Resale data compiled by SRX Property, an estimated 1,097 Non-landed Private Residential units were resold in January 2018. This is a 15.1% increase compared to 953 units resold in December 2017.

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  •  Year-on-year, resale volume in January 2018 was 99.8% higher compared to 549 units resold in January 2017;

 3. Overall median Transaction Over X-Value (TOX) is POSITIVE $16,500 in January 2018. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

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  •  The median T-O-X in January 2018 is POSITIVE $16,500. It is a $4,500 increase comparing to POSITIVE $12,000 T-O-X in December 2017.

 
4. District 9 posts highest median T-O-X. For districts with more than 10 resale transactions in January 2018, District 9 (Orchard / River Valley) posted the highest median T-O-X at POSITIVE $77,000.

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This means that a majority of the buyers in those districts purchased units above the computer-generated market value.

5. Among relatively active districts, District 27 posts the most negative median T-O-X. District 27 (Sembawang / Yishun) posted a T-O-X of NEGATIVE $9,000.

This means that a majority of the buyers in these districts purchased units below the computer-generated market value.

 

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